Medical Action to acquire Medegen Medical for $80 mln

MichaelBaron

NEW YORK (MarketWatch) -- Medical Action Industries Inc.
mdci
Monday agreed to acquire Medegen Medical Products LLC, a private maker of plastic patient utensils, for $80 million. The company said Medegen Medical has manufacturing facilities in Colorado and Tennessee, and that its annual revenue is roughly $100 million. Hauppauge, N.Y.-based Medical Action, a maker of disposable medical devices, expects the transaction to close within 45 days, and it anticipates the deal will immediately add to earnings. The stock closed Friday at $24.47, down 21 cents.

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